EOS is billed as a competitor to the Ethereum blockchain network. True at some levels, though EOS is yet unrealized. Still in development, and facing a multiple year development and refinement process, the EOS network platform has very good promise, excellent and proven design talent behind it, and a planned schedule favoring implementation.
However, the EOS network plans place it much further out in the year, though some of the language around 'alternative Ethers' are likely to be about EOS in early 2018.
On June 1, 2018, EOS will be releasing its own blockchain. In order for your ERC20 EOS tokens to work on the EOS blockchain, you will need to map your current ERC20 EOS tokens to your public EOS address.
EOS.IO bills itself as the most powerful infrastructure for decentralized applications. It launches June 1 2018 as earlier mentioned.
Block.one, its parent company, recently announced the release of EOSIO, Dawn 3.0.
Dawn 3.0 adds many features such as improved scalability features, inter-blockchain communication, lost password recovery, a transaction proposal system, and many others. With Dawn 3.0, EOS is capable of handling 6,000 transactions per second.
EOS.IO expects to be capable of a Visa-like 25,000 transactions per second.
When it launches, it plans on hitting the ground running. Here’s some of what’s going on in the background:
1. In January 2018, Block.one announced a partnership with TomorrowVentures, the venture capital firm backed by former Google Executive Chairman Eric Schmidt. The firm will seed TomorrowBC with $50 million for opportunities leveraging EOS.
2. In January 2018 also, Block.one announced a partnership with Galaxy Digital LP, the venture capital fund of ex-hedge fund manager Mike Novogratz. Block.one and Galaxy Digital will fund an EOS.IO Ecosystem Fund with $325 million.
3. The same month, Block.one hired Richard Jung to lead development of the EOS.IO community in Korea. He’s the former CEO of Bithumb.
4. Additionally, Everipedia, a blockchain-based competitor to Wikipedia led by Sam Kazemian and Wikipedia co-founder Larry Sanger, announced in January that it will be developed exclusively on the EOS platform.
5. In March 2018, Block.one announced a $100 million joint venture with FinLab AG. The venture will accelerate the development of EOS.IO projects in Europe. FinLab AG is one of the largest German investors in the financial services technology sector.
There are currently over 70 dApps building on the EOS platform.
To date, Block.one, through the EOS token sale, has raised a war chest of over $2.7 billion.
Looking forward, the release of EOSIO Dawn 3.0 paves the way for the public launch in June 2018.
According to Dan Larimer, chief technology oﬃcer of EOS, “EOSIO has become far more powerful and easy to develop for than we had conceived a year ago.”
While there are many concerns with EOS, as alternative Ethereum-like networks will be the 2018 'buzz' for 'new business', and 'new businesses' across almost half a year.
EOS claim to fame is faster processing speed. However please note that Ethereum is of a type of blockchain that would allow upgrades to overcome current technical limits. Thus EOS attempt to 'stake out' the 'fast chain' space will be against the established Ethereum network also making technical breakthroughs.
In mid-January Block.One announced a partnership with TomorrowVentures (Eric Schmidt’s venture ﬁrm) to form TomorrowBC, a fund to exclusively invest in opportunities leveraging EOS.io software. It will be seeded with $50 million.
In late January, Mike Novogratz’s Galaxy Digital, a digital asset venture fund, announced a $325 million EOS.io fund. The fund will make strategic investments in projects that utilize the EOS.io ecosystem.
Also, Galaxy Digital’s EOS.io Ecosystem Fund announced a $30 million investment in Everipedia, the world’s ﬁrst blockchain encyclopedia project.
EOS.IO made two key moves to bring liquidity to its platform once it does go live. First, BitVnex, one of the largest cryptocurrency exchanges, will be launching a decentralized cryptocurrency exchange on EOS.IO called EOS nex. And second, EOS.IO will implement the Bancor Protocol. The Bancor Protocol enables users to easily convert between tokens.
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